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Bitcoin Price Found a New Support: Crypto Analyst Josh Rager

  •  Denis Sinyavskiy
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    After yesterday's growth in the cryptocurrency market, popular crypto analyst and trader Josh Rager gave his forecast for the price of Bitcoin.

Bitcoin Price Found a New Support: Crypto Analyst Josh Rager
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Yesterday was marked by the growth of the cryptocurrency market, Bitcoin also added more than three per cent in price. The popular trader and analyst Josh Rager shared his thoughts about the events and gave his forecast for the near future on his Twitter account.

A new support level

Rager believes that Bitcoin's attempt to gain a foothold above the highest volume area in today's range is very important. Thus, cryptocurrency received a new level of support. The next resistance, according to technical analysis, will be the mark of $8380, but the price can easily break through $8500 and go even higher.

More thoughts from analyst

Popular CNBC analyst Big Cheds has a similar opinion, in the near future he expects bearish sentiment in the market, but in the medium term, the upward trend will continue.

Regarding the general situation, the analyst said the following:

“There is support here from July 2018 as well as May 2019, so it is not unlikely that we will see a short-term bounce. In addition, there is a hidden bullish divergence with OBV’s lower low versus price, suggesting bullish continuation.”

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About the author

Starting with a simple interest in cryptocurrency, over the past two years, Denis has worked in a cryptocurrency fund and become an author with an analytical bias. His engineering degree helps with the analysis of the technical part of the cryptocurrency market. As a fan of cryptocurrency, Denis believes that the blockchain technology is the future.

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Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency

  •  Denis Sinyavskiy
    📰 News

    Former US Congressman Ron Paul shares his thoughts on the possible creation of Fed’s own cryptocurrency

Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency
Cover image via www.123rf.com

Former US Congressman Ron Paul spoke on Fox Business and said that the Fed should not think about creating its own cryptocurrency.

Fed’s Crypto: To Be or Not To Be?

Rumors have been circulating for the past few months about the Fed possibly creating own cryptocurrency. It is expected that a digital coin would become a competitor to its counterparts on the market, and may even replace fiat money. President Patrick Harker, President of the Federal Reserve Bank of Philadelphia, commented on such rumors at a recent conference:

“It is inevitable. I think it is better for us to start getting our hands around it.”

However, there has not been no official follow-up by the Fed towards a crypto exchange. While proponents of this idea believe such innovation is necessary, it is expected that the exchange could stop the current delays involving US bank transfers.

What do the opponents think about the Fed's own cryptocurrency?

The idea of ​​creating the Fed's cryptocurrency has its opponents. This includes Ron Paul, who believes that the Fed is in a better position to stay away from digital coins and allow the private blockchain sector and payment platforms to resolve this discussion in real-time. What the Fed plans to do next is unclear, but the central bank may still enter the game.

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About the author

Starting with a simple interest in cryptocurrency, over the past two years, Denis has worked in a cryptocurrency fund and become an author with an analytical bias. His engineering degree helps with the analysis of the technical part of the cryptocurrency market. As a fan of cryptocurrency, Denis believes that the blockchain technology is the future.

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